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Senior cost analyst skills for your resume and career

Updated January 8, 2025

3 min read

Quoted experts

Natalie Burgos,

Stefano Colafranceschi Ph.D.

Below we've compiled a list of the most critical senior cost analyst skills. We ranked the top skills for senior cost analysts based on the percentage of resumes they appeared on. For example, 8.6% of senior cost analyst resumes contained financial analysis as a skill. Continue reading to find out what skills a senior cost analyst needs to be successful in the workplace.

15 senior cost analyst skills for your resume and career

1. Financial Analysis

Here's how senior cost analysts use financial analysis:

Maintained operations budget and forecast records, financial metrics and performed financial analysis of actual results versus forecasts and budgets.
Performed budgetary financial analysis for Operations Managers that assisted them in meeting their continuous improvement performance goals.

2. Cost Analysis

Cost analysis, also known as cost-benefit analysis, refers to analyzing how a company's money is used, whether this is expenses of the company itself or the cost of the current production method. This method also takes the number of products sold into consideration to determine whether the manufacturing process is benefiting or harming the company's profits.

Here's how senior cost analysts use cost analysis:

Created automated information extraction, analysis and interface systems to produced detailed budgets and perform monthly cost analysis and projections.
Created through-put reporting, constrained/unconstrained revenue review and CM/BU cost analysis, margin analysis to evaluate business unit profitability.

3. Cost Estimates

Here's how senior cost analysts use cost estimates:

Generated cost estimates using various techniques, including cost estimating relationships, algorithms, expenditures, or historical data.
Developed cost estimates for government and commercial proposals for an international information technology and intelligence contractor.

4. Reconciliations

Here's how senior cost analysts use reconciliations:

Prepared and posted journal entries, prepared balance sheet reconciliations and analysis of plant performance for presentation to internal management.
Automated Transaction Costing reconciliations leading to enhanced control over inventory movement and integrity of inventory balances.

5. DOD

Definition of Done (DoD) is a set of deliverables that are needed to devise software. These deliverables are valuable to the system and can be exemplified by writing code, coding comments, unit testing, integration testing, design documents, release notes, and so on.

Here's how senior cost analysts use dod:

Provided front-end requirements generation and system design for DOD database and integrated web application CADE (Cost Assessment Data Enterprise).
Developed and submitted Federal DoD (Navy, Army & Air force) cost proposals and complied with DCAA regulations.

6. Variance Analysis

Here's how senior cost analysts use variance analysis:

Performed functions in manufacturing operations including budgeting, forecasting, journal entries, variance analysis, and cost savings analysis.
Executed performance measurement techniques to include cost and schedule performance, variance analysis and recommendations for corrective plan of actions.

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7. SR

Here's how senior cost analysts use sr:

Report directly to Sr.VP of finance.
Managed annual Cost Roll CIBA-GEIGY CORPORATION / NOVARTIS Sr.

8. Cost Models

Cost models are simple formulas, equations, or functions that help quantify, measure, and estimate the time, effort, and economic outcomes of executing a project.

Here's how senior cost analysts use cost models:

Developed Product Marketing Data cost models for Standard Products engineered and manufactured by United Defense.
Partnered with Procurement & created a user-friendly cost model enabling buyers to immediately evaluate the cost impact of purchasing decisions.

9. Cost Data

Cost data refer to the information collected about operating expenses, which is then used to determine the price of products, the gross margin of a company, and how an asset of the company is valued. Using the cost data collected over a number of years allows a company to project the company's future income and, based on this income, future operating decisions.

Here's how senior cost analysts use cost data:

Reported directly to company controller as analyst responsible for preparation and tracking of standard cost data for a diversified manufacturing firm.
Performed statistical analysis of cost data and its performance parameters for input into the Automated Estimating Integrated Tool (ACE-IT).

10. ERP

Enterprise Resource Planning (ERP) is computer software used by major corporations and organizations for conducting their management and accounting tasks efficiently. ERP systems bind different business processes with each other allowing smoother flow of data between them resulting in swift project assessment and completion.

Here's how senior cost analysts use erp:

Selected to assist in the implementation and training of the new JD Edwards ERP System.
Implemented ERP system at newly acquired plant, serving as interim Plant Controller for six months

11. Logistics

Logistics is a complete organization and implementation of a problem. Logistics are often considered in a complex business operation, as some works need detailed plannings. Logistics are also used in military action.

Here's how senior cost analysts use logistics:

Partnered with engineering, logistics, procurement, & IT to improve importing & exporting procedures.
Coordinate budgets/forecasts with 20+ department managers in operations, sales, marketing, and logistics.

12. Financial Data

Here's how senior cost analysts use financial data:

Review and resolve, if necessary, problems regarding the financial database insuring data integrity, availability, and functionality.
Investigated front-end hospital operations, gathered necessary financial data to analyze flexible expense variances incurred in monthly operation.

13. Financial Reports

Here's how senior cost analysts use financial reports:

Reviewed monthly status information and produced various financial reports for management that were summarized into Corporate reporting.
Produced monthly financial reports and analyzed variances to budgets and forecasts.

14. Risk Analysis

Here's how senior cost analysts use risk analysis:

Perform oversight for cost/benefit analysis, business case analysis, operations research analysis, risk analysis, and cost model databases.
Contract Cost Reporting: Understand CSSR, CFSR, risk analysis, profit/loss analysis, and other EVM data.

15. Process Improvement

Here's how senior cost analysts use process improvement:

Identify, recommend, and implement process improvement opportunities that increase and efficiency and effectiveness of Inventory and Cost accounting modules.
Finance business partner supporting production teams with financial modeling to evaluate all business process improvement projects.

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What skills help Senior Cost Analysts find jobs?

Tell us what job you are looking for, we’ll show you what skills employers want.

What skills stand out on senior cost analyst resumes?

Natalie Burgos

Associate Faculty, Edmonds Community College

-Great writing and communication skills - I recommend taking Business Writing classes at Edmonds College. It helped me a lot with my business writing skills!
-Two-plus years of experience with QuickBooks or any other accounting software. Another popular accounting software is Microsoft Dynamics 365, also known as "D365".
-More than one year using Microsoft Excel. Advanced Excel is a plus! Commonly used Excel formulas and functions include VLookUps, IF formula, IFERROR, and Pivot Tables.
-Experience using Ten-Key - most companies don't use the Ten-Key machine anymore. Instead they use the calculator that's already on the computer. Some companies like to use the Ten-Key machine to print the paper and tape it on the source document to show their work. I remember throughout my college years, none of my instructors taught us how to use Ten-Key, so if you have never used the Ten-Key machine or keypad, I recommend to start practicing by using the Ten-Key on the right side of the keyboard. I self-taught myself because my mom, who is an accountant, recommended me to.

What hard/technical skills are most important for senior cost analysts?

Stefano Colafranceschi Ph.D.

Assistant Professor, Eastern Mennonite University

Quantitative and technical skills like coding, knowledge of complex hardware and/or software systems, and the ability to perform quick and dirty calculations are of utmost importance. Depending on the context, specific skills might be required by the job, however, handling any type of computer language/framework plus a math-oriented mindset often is a winning mix.

What senior cost analyst skills would you recommend for someone trying to advance their career?

Jarrad Harford Ph.D.

Professor of Finance, University of Washington

They should try to enhance the practical skills to complement the foundational knowledge they learned in college. So, this could include spreadsheet modeling, programming in R, expertise with Bloomberg terminals, etc. There are plenty of online courses that can help with these types of practical skills.

What type of skills will young senior cost analysts need?

Dr. Reid Cummings

Associate Professor of Finance & Real Estate, University of South Alabama

As computing systems continue to advance and evolve, and as artificial intelligence becomes more prevalent in data analytics, the ability to work with a variety of data manipulation, analysis, and presentation platforms will become increasingly important. Equally, a focus on improving critical thinking and communication skills, and the abilities to present outcomes, analysis, and ideas in a succinct, cogent, and logical fashion, will largely differentiate those who will succeed at a high level from everyone else.

Do you want to know more?

List of senior cost analyst skills to add to your resume

The most important skills for a senior cost analyst resume and required skills for a senior cost analyst to have include:

Financial Analysis
Cost Analysis
Cost Estimates
Reconciliations
DOD
Variance Analysis
SR
Cost Models
Cost Data
ERP
Logistics
Financial Data
Financial Reports
Risk Analysis
Process Improvement
Account Reconciliations
Cost Accounting Standards

Accruals
Strong Analytical
Balance Sheet
Cost Savings
GAAP
Calculation
Financial Statements
SOX
General Ledger
Work Breakdown Structure
Cost Reduction
Internal Controls
Product Cost
Inventory Valuation
Cost Control
Cost Proposals
Gross Margin

Earned Value Management
Provide Management
PPV
WIP
Margin Analysis
External Auditors
Price Analysis
Hyperion
WBS
RFP
BOM
Cycle Counts
Business Analysis
Cost Reports
Product Line

Updated January 8, 2025

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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